Wednesday, 1 October 2014
Last updated 33 min ago
Jun 21 2010 | 11:47am ET
Given all of the activity of recent days, one could be forgiven for forgetting that Congress may yet bar banks from the alternative investments industry.
The latest firm to thumb its nose at the Volcker rule—which would ban banks from owning, investing in or sponsoring hedge funds or private equity funds—is the bank with the most to lose, JPMorgan Chase. The New York-based firm is in talks with Brazilian hedge fund manager Gávea Investimentos.
According to the Financial Times, those discussions are at an advanced stage, but no deal has yet been reached. Among the things that could yet sink an agreement is the Volcker rule: JPMorgan is reportedly waiting to find out just how stringent the new financial regulations will be before agreeing to buy Gávea.
Still, the talks represent a more serious potential deal than that reportedly discussed by Highbridge Capital Management, which is owned by JPMorgan, and Gávea earlier this year. Under that sketchy proposal, Highbridge would take an undisclosed stake in the firm, but Gávea would retain its own management team and “autonomy.”
Gávea was founded in 2003 by former Armínio Fraga. It has about US$5.3 billion in assets and 109 employees in two offices, in Rio de Janeiro and São Paulo.
JPMorgan already boasts some US$30 billion in alternative investment assets under management, including more than US$20 billion at Highbridge.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...